Solar panels are a great way to save money on energy bills and reduce your carbon footprint. If you live in Rhode Island, you may be wondering what the cost of solar panels is in your state. Here’s a breakdown of the costs and incentives available for solar panel installation in Rhode Island.
The cost of solar panels in Rhode Island varies depending on several factors, including the size of your home, your energy usage, and the type of panels you choose. On average, you can expect to pay between $15,000 and $30,000 for a solar panel system in Rhode Island. However, this price can be significantly reduced through various incentives and financing options.
One of the main incentives available to Rhode Island residents is the Renewable Energy Growth (REG) program, which provides financial incentives for solar panel installations. The REG program is funded through a surcharge on electric bills, and it provides rebates of up to 50% of the cost of a solar panel system.
In addition to the REG program, there are also federal tax credits available for solar panel installations. The federal Investment Tax Credit (ITC) allows you to claim a credit of 26% of the cost of your solar panel system on your taxes. This credit is set to expire in 2022, so if you’re considering installing solar panels, now is a good time to do so.
There are also various financing options available for solar panel installations in Rhode Island. Some companies offer financing options with low interest rates, which can make it easier to afford the upfront cost of a solar panel system.
Overall, the cost of solar panels in Rhode Island is relatively affordable, especially when you consider the long-term savings on energy bills and the environmental benefits of renewable energy. With the various incentives and financing options available, it’s easier than ever to make the switch to solar panels in Rhode Island.
With our Solar Plans in Rhode Island – homeowners can expect to pay NO UP FRONT OUT OF POCKET COSTS. We can save you money and get Solar Installed in Rhode Island without the upfront expense of a solar panel system. Fill out the form at www.RhodeIslandSolarPanels.com today and we’ll show you how much you can save!